Rental
Housing EAST BAY RENTAL HOUSING ASSOCIATION | APRIL 2015
Legal Policy Market Conditions
Lending
Housing Outlook
New vs. Existing Construction
EBRHA’s Economic & Legislative Forum April 22 All the players in multi-unit real estate in one event
PLUS: ECONOMIC FORUM PROGRAM GUIDE AND SPEAKER BIOS CITY OF ALAMEDA SPOTLIGHT: WHAT SETS THE CITY APART?
Starting July 1, 2015, Oakland Multi-Family Buildings* Will Have Food Scraps Collection and More!
Look for Your New Green Compost Cart to Arrive in June!** Oakland Recycles, a partnership between the City of Oakland, California Waste Solutions and Waste Management of Alameda County, is here to help residents and multi-family property managers recycle right. Zero Waste services arriving July 1 include:
• Green Compost Cart for Collection of Food Scraps, Food-Soiled Paper and Plant Trimmings
• Free On-Site Service Levels Assessment • Free Kitchen Pails for Residents While Supplies Last • Free How-To Recycling Information for Residents and Owners/Managers
www.OaklandRecycles.com
• Annual Bulky Item Pickup for Residents • Free Bulky Item and Electronics Drop-Off Events Four Times a Year for All Residents
• Other Additional Pickup Services for a Cleaner, Greener Oakland
Request Your Free On-Site Service Levels Assessment and Resident Recycling Materials Today! Visit ebrha.com/zerowaste * Multi-family buildings with 5 units or more. ** Minimum Cart Delivery is one 32-gallon cart for buildings with 5 to 12 units and one 64-gallon cart for buildings with 13 units or more. Additional compost carts are available at no additional charge.
Contents
East Bay Rental Housing Association
APRIL 2015
Volume XII, Number 4 April 2015 EBRHA OFFICE
Features & Columns
360 22nd Street, Suite 240 Oakland, CA 94612 tel 510.893.9873 | fax 510.893.2906 www.ebrha.com EBRHA STAFF EXECUTIVE DIRECTOR
Jill Broadhurst | jbroadhurst@ebrha.com DIRECTOR OF STRATEGIC PARTNERSHIPS
Tina Bocheff | tbocheff@ebrha.com PUBLICATIONS & COMMUNICATION PRODUCER
Esteban Cortez | ecortez@ebrha.com ACCOUNTING MANAGER
Cathy Hayden | chayden@ebrha.com EDUCATION & MEMBER MANAGER
Tori Blanca | tblanca@ebrha.com
10
26
d Street, Suite 240, Oakland CA 94612
2006 Redux?
A New Voice in Sacramento
BY MARC LIPSETT
PRESIDENT Wayne C. Rowland VICE PRESIDENT Luke Blacklidge VICE PRESIDENT Jack Schwartz TREASURER Abbe Sultan SECRETARY Fred Morse MEMBER Rick Philips
PUBLISHED BY
East Bay Rental Housing Association PUBLISHER
Alameda Spotlight
Wayne C. Rowland MANAGING EDITOR Jill Broadhurst
BY TINA BOCHEFF
EDITOR Tina Bocheff ART DIRECTOR & COPY EDITOR Esteban Cortez
Features & Columns NEWS
Madison Park Financial Plans to Build Three New Apartment Buildings in Oakland
ADVERTISING
Tina Bocheff | 510.318.8303
24
CAPITOL INTELLIGENCE
BY RON KINGSTON
Delivering Our Message
36
GOVERNMENT AFFAIRS BY GREG BROWN
Who Wins and Who Loses
14
ECONOMIC FORUM
Schedule of Events
16
ECONOMIC FORUM
38
ESQ&A
18
MARKET OUTLOOK
BY CLIFFORD FRIED
ASSOCIATION
22
REAL ESTATE
BY JOHN CARONNA
Speaker Bios
Rental Boom Boon to Bay Area Economy BY THE NATIONAL APARTMENT
A Full House
Events & Directory 36 COMMUNITY CALENDAR 38 M EMBER DIRECTORY 42 M EMBERSHIP APPLICATION 42 A D INDEX
Seller Beware
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EBRHA OFFICERS
Mark Almeida, Symon Chang, Reggie Hairston, Carmen Madden, Conor Murphy, Michael Pallas, Rick Philips, Sarah Picker, Judy Shaw, , Menna Tesfatsion
30
4 RENTAL HOUSING
Evangelina Salazar | esalazar@ebrha.com
EBRHA DIRECTORS
BY WAYNE C. ROWLAND
8
MEMBERSHIP & ADMINISTRATIVE ASSISTANT
ebrha.com
Rental Housing (ISSN 1930-2002-Periodicals Postage Paid at Oakland, California. POSTMASTER: Send address changes to RENTAL HOUSING, 360 22nd Street, Suite 240, Oakland, CA 94612. Rental Housing is published monthly for $36 per year by the East Bay Rental Housing Association (EBRHA), 360 22nd Street, Suite 240, Oakland, CA 94612. Rental Housing is not responsible for the return or loss of submissions or artwork. The magazine does not consider unsolicited articles. The opinions expressed in any signed article in Rental Housing are those of the author and do not necessarily reflect the viewpoint of EBRHA or Rental Housing. This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is sold with the understanding that the publisher is not engaged in rendering legal, accounting or other professional services. If legal service or other expert assistance is required, the services of a competent person should be sought. Acceptance of an advertisement by this magazine does not necessarily constitute any endorsement or recommendation by EBRHA, express or implied, of the advertiser or any goods or services offered. Published monthly, Rental Housing is distributed to the entire membership of EBRHA. The contents of this magazine may not be reproduced without permission. Publisher disclaims any liability for published articles. Printed by Jostens Printing Co. Copyright Š 2015 by EBRHA. All rights reserved.
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contributors WAYNE C. ROWLAND Wayne is President of the EBRHA Board of Directors and President of the California Rental Housing Association. He is an avid representative of EBRHA issues in the community. He purchased his first property a year out of college and has over 30 years of real estate investment experience. He is a graduate of San Francisco State University with a degree in finance.
JOHN CARONNA John Caronna has been an East Bay apartment investment-grade real estate specialist and apartment building owner since 1999. He has more than 12 years of first-hand experience with all facets of multi-unit property management including rent control parameters, tenant relations and property maintenance. John specializes in advising clients on the most important aspects of considering and eventually purchasing small to mid-size apartment buildings in Alameda and Contra Costa Counties.
RON KINGSTON Ron Kingston is the EBRHA state lobbyist and president of the California Political Consulting Group. He has 30 years of lobbying experience and is one of the original writers of the state’s legislation against rent control, the CostaHawkins Act. He grew up in South Lake Tahoe and lives in Carmichael with his wife Sherrie, a financial planner. In his spare time, he cycles, skis and takes international scuba diving trips.
ONLINE TENANT SCREENING
To Schedule an Appointment, Call (510) 893-9873 EBRHA provides members with low-cost online resident screening. Partnered with Contemporary Information Corp. (CIC), resident screening has one objective: to make sure your leasing decisions make the greatest possible contribution to your bottom line. As of 2014, landlords can collect a maximum of $45.16 for an application fee.
MEMBER PRICING Basic Report* . . . . . . . . . . . $15 Bad Check Search. . . . . . . . $10 Social Security Search. . . . . $7 Criminal . . . . . . . . . . . . . . . . $10
MARC LIPSETT
Criminal (County) . . . . . . . . $10
Marc Lipsett became finance manager for a real estate investment company in 1996. He joined their lead bank, Home Savings, in 1998 and worked for WaMu until 2007 when he left to start a competitor. He has been a top producer with Intervest since 2011, winning three Sterling Performance awards.
Verbal and Fax Reports . . . . . . . Add $20
*Includes TransUnion credit report, FICO score and eviction history
JOHN A. RUSSO John Russo was appointed City Manager for the City of Alameda in June 2011. Shortly after, Russo quickly stabilized City Hall, assembled a dynamic management team, and established transparency, responsiveness and accountability as core values for Alameda’s municipal government. Throughout his career, John has fought for reform in local government, in the state legislature and in the courts. 6 RENTAL HOUSING
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East Bay Rental Housing Association TEL
510.893.9873 | FAX 510.893.2906 www.ebrha.com
925-344-5755 877-264-6964
(Call Now For a Free Estimate)
COLUMN
news New Free Service Helps Alameda County Property Owners Dispose of Tenants’ Waste There is a new free hazardous waste service in Alameda County
Lampwork Lofts, a Madison Park Financial apartment building, in West Oakland
Madison Park Financial Plans to Build Three New Apartment Buildings in Oakland developer Madison Park Financial (an EBRHA member) is seeking approval for three new housing projects in Oakland, which would bring 230 units to the city. The projects include: 36 residential and 11 live-work units in West Oakland at 2868 Hannah St.; 53 residential units and 10 live-work units at 2985 Ford St. in Fruitvale; and 120 apartments at 3250 Hollis St. in West Oakland. “Development in Oakland is a small fraction of the rate it is in San Francisco, as construction costs are not significantly less, and the rents aren’t there to support development except in amenityrich and transit-oriented areas like Uptown and Temescal,” President and CEO of Madison Park Financial John Protopappas said in an interview with EBRHA in January. “However, now demand is starting to pick up on its own in Oakland. Oakland’s renaissance, started in large part by its artistic and creative population and burgeoning food scene, is taking shape after many years of slow progress.” According to the San Francisco Business Times, Madison Park Financial expects to break ground on the projects by 2016. Source: San Francisco Business Times, Roland Li, March 9, 2015, http://www.bizjournals.com/sanfrancisco/ blog/real-estate/2015/03/west-oakland-fruitvaleprotopappas-madison-park.html?page=all ACCORDING TO THE SAN FRANCISCO BUSINESS TIMES,
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for residential property owners to dispose of their tenants’ waste. In order to participate, rental property owners must call the California Environmental Protection Agency (CalEPA) at 800-6186942 to apply for an EPA ID. In many cases, EPA ID numbers can be assigned over the phone. Property owners must qualify as a conditionally exempt small quantity generator by filling out and returning a self certification form, which can be found at www.stopwaste.org/ resource/residential-landlord-hazardouswaste-program. The Alameda County Household Hazardous Waste program will review the form and send the owner a confirmation letter. Once confirmation letter is received, owners can call 510670-6460 to schedule an appointment. Property owners are limited to 220 pounds of waste a month. No individual container or item can be over five gallons or 50 pounds. Most common consumer building maintenance products are accepted, including: adhesives, painting, cleaning, auto, garden, propane, batteries,and fluorescent bulbs. Other more industrial products may be accepted after a consultation. The following items are not accepted: compressed gasses (five gallon BBQ propane tanks and smaller are okay); explosives, radioactive material; unknown industrial chemicals; contaminated soil debris, plastic sheeting or other waste from site cleanups or lead paint removal activities; other unknowns such as unlabeled chemicals. For more information, property owners are encouraged to call 800-606-6606 (toll free).
We Are Days Away from Legislative Day in Sacramento Do you have an interest in representing EBRHA in Sacramento on April 15? Spend the day learning about bills,
C O L D W E L L B A N K E R meeting with legislators and their staff, while sharing our concerns and educating policy makers on the intricacies and realities of our industry at EBRHA’s Legislative Day on April 15 in Sacramento. “We use Legislative Day as an opportunity to build relationships with our elected officials,” EBRHA Executive Director Jill Broadhurst said. “We make sure they know who we represent, that we appreciate their time, and that EBRHA wants a seat at the table on any issue related to residential income housing.” She added, “Access to Legislative Day is an important benefit of EBRHA membership—a direct pipeline of voices speaking on behalf of all income property owners in Alameda and Contra Costa Counties.” To RSVP, contact Tori Blanca at tblanca@ebrha. com or 510-893-9873 before April 7.
Over 16 years experience as an owner of both residential and commercial multi-units!
Multi-Unit Specialist Recent Sales: • Highland Rd. Duplex, Lafayette, Represented Buyer • Snake Rd. Fourplex, Montclair, Represented Buyer Plus:
JUST CLOSED! Five units, most rent control exempt! Two blocks from Piedmont Avenue, over 5.5% return.
EBRHA is Moving Offices in May! EBRHA’s offices will be moving to 3664 Grand Ave., Suite B, just five blocks east of the Grand Lake Theater. Our new offices are being built-out and will be modern, spacious and conducive to the growing number of members, and the types of services and education we offer. Metered and free parking is plentiful, and this location is easily accessed by car from both the Grand Avenue and Oakland Avenue exits off of highway 580. By bus, AC Transit Line #12 stops directly in front of the building, and the #12 bus serves both the Lake Merritt and 19th Street BART stations. We look forward to your visit in late spring.
NAA is on the Lookout for the Best Communities in the Country The NAA Paragon Awards recognize
and celebrate the exceptional contributions that builders, suppliers, industry professionals and affiliated apartment associations have made in making the multifamily housing industry what it is today. To learn more about the Paragon Awards or to nominate a builder, supplier, professional or apartment community, go to www.naahq.org/about/ awards/paragon. RH
For advice and guidance on how to achieve similar financial goals, please email or call.
COMING SOON! Rockridge triplex. Incredible location, over $112,000 in annual rent! Call or email for more information.
• Market rent analysis by neighborhood maximizes property value • Strategies for successful multi-unit property ownership • Identify and advise 1031 exchange opportunities Your East Bay Investment Real Estate Advisor
JOHN CARONNA (925) 253-4648 www.eastbayIREA.com DRE# 01898437 ©2015 Coldwell Banker Real Estate LLC. All Rights Reserved. Coldwell Banker® is a registered trademark licensed to Coldwell Banker Real Estate LLC. An Equal Opportunity Company. Equal Housing Opportunity. Each Coldwell Banker Residential Brokerage office is owned by a subsidiary of NRT LLC. CalBRE License # 01908304
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COLUMN
the president’s message
nia generally comes with the burden of being subject to relatively high levels of regulation. Of course, such regulation is not necessarily a bad thing. Indeed many rental housing related laws are written to enhance the health and safety of rental dwellings. They provide a regulatory safety net of sorts and are good for all parties involved. Laws related to the installation of smoke and carbon monoxide detectors come to mind. Properly drafted, these laws make a great deal of sense. These laws save lives. On the other hand, it is not a given that all proposed laws that arrive in Sacramento are “properly drafted,” in Introducing CalRHA, the new statewide rental their first iteration. Much to the contrary. Many, if passed in their first form, would housing association. BY WAYNE C. ROWLAND stand to do more harm than good. Others should not be passed at all…ever. Each year a great deal of time, effort and energy is spent by legislators, advocates of various industries, and advocates of social organizations, in trying to create laws that solve problems and enhance the quality of life for California residents. The process works well and most often results in the passage of effective new laws. But not always. Sometimes the laws that are passed have unintended negative consequences that can hit certain industries—ours for instance—especially hard. The need for renewed vigor in advocacy for the rental housing industry in Sacrahe rental housing industry, being mento has frequently been made painfully contractors, plumbers, electricians and one of the largest in California, apparent. many other housing related trades is very important to the smooth That’s why I am very pleased to people and professionals. Every year, in functioning of our state’s economy. Not announce the formation of a new stategood times and bad, we purchase large only do we house more than half of the wide rental housing association, officially quantities of building materials of all state’s population, we are also responknown as the California Rental Houstypes, from big box retailers and from sible for the creation of a huge number ing Association (CalRHA). CalRHA small mom and pop hardware stores of jobs over a wide cross section of the represents the joining together of rental alike. These purchases, which are made economy. In fact, a new study commishousing associations throughout the in the course of constructing, maintainsioned by the National Multifamily entire state, with the specific purpose of ing and renovating rental homes and Housing Council (NMHC) and the advocating for the interapartments, provide a National Apartment Association (NAA), bedrock of economic sup- “CalRHA repreests of California rental shows just how much the San Fransents the joining property owners. port for local businesses cisco metro area’s economy benefited together of rental Each association is in all parts of the state. from the rental boom. In 2013—the housing associaequally represented on The economic activity latest numbers available—apartment the Board of Directors generated by our industry tions throughout the construction, operations and resident entire state, with the of CalRHA, and each helps the communities spending contributed $25.3 billion specific purpose of is also a member of the we serve thrive, and is locally, and supported 209,400 jobs in National Apartment something many of us are advocating for the the metro area. (More details from this interests of CaliforAssociation (NAA). very proud of. report are featured on page 18). nia rental property The local chapters of Unfortunately, being a In no small volume, we employ owners.” CalRHA include: Apartlarge industry in Califor-
A New Voice in Sacramento
2ndTStreet, Suite 240, Oakland CA 94612
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UPCOMING WORKSHOPS & EVENTS ment Association, California Southern Cities; Apartment Association of Greater Los Angeles; Apartment Association of Orange County; East Bay Rental Housing association; Nor Cal Rental Property Association, Inc.; North Valley Property Owners Association; San Diego County Apartment Association; and Santa Barbara Rental Property Association. CalRHA’s central mission is to become immediately and vigorously involved in the business of advocating for our industry. To that end we have arranged for a Legislative Day, which takes place in Sacramento on April 15, 2015. As the new President of CalRHA, I enthusiastically extend an invitation to all members to come to Sacramento and participate, by meeting with our legislators, discussing bills of importance to our industry and advocating for our positions. This event happens but once a year, and your commitment to help protect rental property rights is critical to our shared success, and the health of the industry. (See page 24 of this issue to reserve your space at Legislative Day). Another important event that takes place this month is EBRHA’s Economic and Legislative Forum, set for April 22. The Forum provides an excellent opportunity to obtain up-to-date information regarding local markets. It features an Economic Forecast by K.C. Sanjay and Rick Wilson, real estate economists and researchers with AXIOMetrics Inc., followed by panelists who will address current trends in sales, financing, development and local rental housing policy issues. Additionally, there will be a discussion of what’s happening legislatively in Sacramento that may impact our industry in the near future. I hope to see you at these two invaluable events, which are sure to positively influence your rental housing business decisions and outcomes, in 2015, and beyond. RH
Wayne C. Rowland is the President of EBRHA and CalRHA, and is an avid representative of issues in the community. He has over 30 years of real estate investment experience. He is a graduate of San Francisco State University with a degree in finance. He can be reached at 510339-7152 or wayne.rowland@yahoo.com.
Landlord 101 D ATE & TIME SPEAKER PRICE TOPICS
THURSDAY, APRIL 9; 2:00 P.M. - 3:30 P.M.
Tori Blanca, CCRM, EBRHA Members: Free; Non-members: $69 New Laws for 2015, Tenant Screening, The Application Process, Fair Housing, Measure EE and Rent Control
Legislative Day in Sacramento D ATE & TIME WEDNESDAY, APRIL 15; 8:00 A.M. - 5:00 P.M. LOCATION Sacramento, Calif. INFO Contact Tori Blanca before April 7 to RSVP at 510-893- 9873 or tblanca@ebrha.com. To learn more about Legislative Day, go to www.ebrha.com/get-involved.
Fair Housing and Your Rental Business D ATE & TIME SPEAKER PRICE TOPICS
TUESDAY, APRIL 21; 2:00 P.M. - 3:30 P.M.
Angie Watson-Hajjem, Fair Housing Specialist, ECHO Housing Members: Free; Non-members: $69 Fair Housing Protections, Disability Issues, Families with Children, Occupancy Standards, Advertising Standards, and More
Economic & Legislative Forum D ATE & TIME LOCATION SPEAKER PRICE TOPICS
WEDNESDAY, APRIL 22; 8:00 A.M. - 11:30 A.M. Scott’s at Jack London Square, 1 Broadway Ave., Oakland See page 14 or back cover for speaker info and schedule. Early bird discount ends April 11; Go to www.ebrha.com/forum for pricing and to purchase tickets Economic Forecast, Lender & Broker Updates, Rental Housing Outlook, Legislative & Planning Policy Landscape (go to page 14 for full schedule)
Online Registration at ebrha.com
All classes and workshops are held at the
Sign up, pay registration fees and receive reminders online.
EBRHA Education Center 360 22nd St., Suite 240 Oakland
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JUNE 24–27, 2015
Mandalay Bay Resort & Convention Center | Las Vegas
The best and brightest opportunities are waiting for you in Las Vegas.
Boost your bottom line with the latest insights from influential leaders. Source revenuegenerating products and services. Get inspired while listening to the achievements of the most successful entrepreneurs and celebrities. Build valuable relationships with your peers and network with key decision makers. The 2015 NAA Education Conference & Exposition has everything you need to connect, learn and grow. Registration opens October 22, 2014. To learn more, visit www.naahq.org/educonf. For more information on exhibiting, sponsorship and advertising opportunities, please contact NAA sales at sales@naahq.org.
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BOTANIST. SWIM COACH. PICKLE EATER. RENTER. APARTMENTS. WE LIVE HERE. Everybody talks about how the population is
and skilled trades, as well as all the local businesses
changing. Baby Boomers downsizing. Echo Boomers
that attract the 35 million botanists, school teachers,
emerging.
veterinarians, textile designers, pickle eaters, data
Stay-at-home dads. Work-at-home jobs.
Couples with – or without – children. It makes you realize how well apartment homes fit
into today’s communities. After all, apartments and residents contribute
processors, and cello players who call apartments home. For a fresh take on today’s housing market – state by state – and an interactive picture of how, with your help, we can develop 300,000 new
$1.1 trillion annually to the economy. That’s a ton of
apartments a year to meet this exciting demand, visit
jobs in construction, operations, leasing, management,
WeAreApartments.org.
WeAreApartments.org
ECONOMIC FORUM
schedule of events
EAST BAY RENTAL HOUSING ASSOCIATION PRESENTS
Economic & Legislative Forum 8:00 a.m. – 8:30 a.m. Event opens, featuring Continental Breakfast & Networking Scott’s at Jack London Square, 1 Broadway, Oakland 8:30 a.m. – 9:00 a.m.
Keynote: Economic Forecast Presented by K.C. Sanjay, Real Estate Economist with AXIOMetrics Inc.; and Rick Wilson, Research Analyst with AXIOMetrics Inc.
9:00 a.m. – 9:45 a.m.
Rental Housing Outlook Presented by Bianca Fargnoli, Director of Real Estate at Greystar; and Daniel Bornstein, Esq., Founding Partner of Bay Property Group and The Law Offices of Bornstein & Bornstein
9:45 a.m. – 10:30 a.m.
Lender & Broker Updates Presented by Luke Blacklidge, Real Estate Broker with Litton-Fuller Group and EBRHA Vice President; James Kilpatrick, President of NAI Northern California; and Marc Lipsett, Director of Loan Production with Intervest
10:30 a.m. – 11:00 am.
Legislative Landscape Presented by Ron Kingston, President of California Political Consulting Group and EBRHA State Lobbyist
11:00 a.m. – 11:30 a.m.
Post-event Networking
* All sessions moderated by Wayne C. Rowland, President of EBRHA and CalRHA
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THANK YOU TO OUR ECONOMIC FORUM SPONSORS
Commercial Real Estate Services, Worldwide.
Thanks to our generous sponsors who enthusiastically support this event.
Without you, this event would not be possible.
Legal Excellence and Dedication to Clients Fighting for Property Owners’ Rights
Landlord-Tenant Disputes & Evictions Rent Board Representation Commercial & Residential Transactions & Leasing Purchase and Sales Agreements Real Estate Litigation Land Use, Zoning & Building Permits Corporate, LLC & Entity Formation Probate, Wills & Trusts 480 9th Street Oakland, CA 94607 Tel: 510-625-0100
177 Post Street, Suite 800 San Francisco, CA 94108 Tel: 415-421-0100
www.friedwilliams.com ebrha.com
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speaker bios
ECONOMIC FORUM
Meet the Experts Discover invaluable information from leading industry experts at our Economic & Legislative Forum.
KEYNOTE SPEAKERS K.C. SANJAY
RICK WILSON
Senior Real Estate Economist, Axiometrics Inc.
Research Analyst, Axiometrics Inc.
K.C. Sanjay leads Axiometrics’ onsite economists and analysts in using in-depth apartment market and student housing research to solve real-world challenges. A detailoriented quantitative economist who thinks out of the box and brings years of experience in real estate market research, K.C. consults with Axiometrics clients on investment strategy, advisory projects and feasibility studies. Before joining Axiometrics, K.C. was a research analyst for Invesco Ltd., where he was involved with commercial real estate market research to assist in that company’s acquisition and disposition strategies. He also served as senior economic and real estate analyst with Guaranty Bank/BBVA Compass. K.C. is a graduate of the University of Texas at Arlington—College of Business Administration, where he received his master’s degree in economics with concentration in econometrics.
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Rick Wilson assists Axiometrics clients in acquisition and development investments by providing in-depth analysis of apartment and student housing market and submarket trends across the United States. Wilson is called upon regularly to compile and analyze data collected by Axiometrics’ researchers and is responsible for preparing apartment market and student housing feasibility studies for clients. He is also a frequent contributor to Axiometrics’ blog. Before joining Axiometrics, Wilson was employed by a California-based real estate investment firm, where he prepared and presented financial plans and budgets geared toward assisting with potential residential property acquisitions. Also under Wilson’s purview was budget development, as well as interaction with city councils and building planning committees to determine zoning requirements and necessary permitting for developments. Wilson received his degree in economics from Southern Methodist University in Dallas, TX.
LUKE BLACKLIDGE
BIANCA FARGNOLI
JAMES KILPATRICK
Litton-Fuller Group and EBRHA Board
Director of Real Estate, Greystar
President, NAI Northern California
Luke Blacklidge has been a real estate broker with Litton-Fuller Group for the past 25 years and specializes in sales of apartment buildings in the East Bay. He has specialized in the Oakland apartment market during his entire career. He is a Past President of the Alameda County Apartment House Owners Association, and an expert of Oakland rent control issues and 1031 exchanges. He owns several Oakland apartments and does his own management. He is an EBRHA Past President and currently is an officer on the EBRHA board.
DANIEL BORNSTEIN
Attorney, The Law Offices of Bornstein & Bornstein, and Managing Broker, Bay Property Group Daniel Bornstein has over 15 years experience handling real estate/civil litigation related disputes and has successfully handled thousands of landlord/tenant disputes. He is a past EBRHA board member, a member of the Professional Property Managers’ Association and has conducted numerous seminars throughout the Bay Area. He also regularly serves as an expert witness in litigation involving property management and real estate disputes.
Bianca Fargnoli is a Director at Greystar Real Estate Partners. She has multifamily experience in both market rate and affordable housing communities, including garden, mid-rise and highrise projects. At Greystar, Bianca plays an asset management role throughout the development lifecycle and stabilized properties.
WAYNE C. ROWLAND
James Kilpatrick is the President of NAI Northern California, a top recognized real estate brokerage firm in the San Francisco bay area. Leading the opening of NAI Northern California’s San Francisco expansion, Mr. Kilpatrick recruited team leaders and supported growth of teams in Industrial, Office and Hospitality divisions of the firm. He continues to oversee the day to day operations of NAI Northern California, strategic expansion and large account management.
President of Rowland Property Management and EBRHA President Wayne is President of the EBRHA Board of Directors and the California Rental Housing Association (CalRHA). He is an avid representative of issues in the community. He purchased his first property a year out of college and has over 30 years of real estate investment experience. He is a graduate of San Francisco State University with a degree in finance.
MARC LIPSETT
Director of Loan Production, Intervest Marc Lipsett became finance manager for a real estate investment company in 1996. He joined their lead bank, Home Savings, in 1998 and worked for WaMu until 2007 when he left to start a competitor. He has been a top producer with Intervest since 2011, winning three Sterling Performance awards.
RON KINGSTON
EBRHA State Lobbyist, and President of the California Political Consulting Group Ron is the President of the California Political Consulting Group (CPCG) and EBRHA’s state lobbyist. Ron’s accomplishments are well-recognized in the state of California as a result of a deep knowledge of historical, political, functional and technical aspects of the law. Ron has worked as a lobbyist for almost 30 years, during which he has represented clients before Democratic and Republican legislatures. He is a personable, highly respected, and very knowledgeable lobbyist who has written 89 bills, with an enactment success rate of 94%. All but a handful of bills ultimately became law both at the state and federal level. RH
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market outlook
Rental Boom Boon to Bay Area Economy Demographic changes, growing millennial population and rediscovery of urban cores draws people to apartment living. BY THE NATIONAL APARTMENT ASSOCIATION
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he apartment industry emerged as one of the strongest sectors coming out of the Great Recession, and a new study shows just how much the San Francisco metro area’s economy benefited from the rental boom. In 2013—the latest numbers available—apartment construction, operations and resident spending contributed $25.3 billion locally and supported 209,400 jobs in the metro area. The economic data are part of new research commissioned by the National Multifamily Housing Council (NMHC) and the National Apartment Association (NAA), which looks at dollars and jobs from apartment construction, operations and resident spending, nationally, by state and in 40 specific metro areas, 18 RENTAL HOUSING
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the apartment industry totaled $25.3 billion, supporting 209,400 jobs. The economic contribution of local apartment construction totaled $3.1 billion. In addition, the economic contribution of local apartment operations totaled $3.4 billion, and apartment construction and operations supported more than $1.9 billion in personal earnings for local workers. Renter spending in the San Francisco metro area contributed $18.8 billion to the local economy. These numbers show that the total economic contribution of the apartment industry and its residents in California totaled $139.1 billion and supported 1.3 million jobs. A Strong Local Economy “The Bay Area is headquarters to a number of technology powerhouses, including Google, Intel and Apple, which attract a highly educated workforce of young adults to the metro area. The diverse Bay Area economy is also driven by strong construction, finance and tourism industries that, collectively, generate a tremendous demand for area apartments. Even as construction levels stand at a 20-year high, especially in San Francisco and Oakland, the supply of apartments in the Bay Area remains insufficient,” said Jill Broadhurst, Executive Director of the East Bay Rental Housing Association. “The rental boon—both locally and nationally—has been fueled by demographic changes like the growing millennial population and a rediscovery of metropolitan urban cores.”
including the San Francisco metro area. The data, based on research by economist Stephen S. Fuller, Ph.D., of George Mason University’s Center for Regional Analysis, are available on the website www.WeAreApartments.org.
Apartment Construction “Here in the Bay Area, we’re feeling the positive economic impact of the booming apartment industry, which is helping our city thrive,” Broadhurst explained. “The great news about the apartment industry is that the dollars and jobs don’t Contributions to the Economy end with construction. Nationally, the apartment “These numbers The ongoing operations industry and its 36 milshow that the and resident spending lion residents contributed make each apartment an impressive $1.3 trillion total economic contribution of the community an economic to the U.S. economy, supapartment industry engine, supporting local porting 12.3 million jobs and its residents in jobs and making a posiacross the U.S. in 2013. California totaled tive economic impact in The study showed $139.1 billion and our area—and in towns that in the San Francisco supported 1.3 million across the country.” metro area, the local ecojobs.” Some of the apartnomic contribution from
PHOTO: MIKE LINKSVAYER
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Register now at www.ebrha.com/calendar or call (510) 893-9873. Registration is required by Friday, April 10.
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ment construction projects in the East Bay area include Summerhill in Walnut Creek, Del Monte Conversion in Alameda, the Lampwork Lofts in Oakland, as well as a new project by AvalonBay in Emeryville. “Our study showed major increases around apartment construction, with construction spending, economic contributions and personal earnings all rising substantially,” said Fuller. “The construction for multifamily apartment buildings is a significant and growing source of economic activity, jobs and personal earnings in communities nationwide.” “According to our study findings, apartment construction has been on the rise over the past five years. In 2009, during the economic recession, there were only 97,000 construction starts, which was the lowest level since records began in 1964. In comparison, there were 294,000 construction starts in 2013—a significant increase,” said NAA Chairman Tom Beaton, Senior Vice President, Management, The Dolben Co. “The most visible sign of the rental resurgence—apartment construction—is on the rise, contributing $93 billion to the national economy in 2013, resulting in $30 billion going directly into the paychecks of more than 700,000 workers,” said NMHC Chairman Daryl Carter, CEO of Avanath Capital Management. “Besides all the dollars and jobs, the increase of available apartments will also help address affordability challenges that we see in many markets across the U.S.” A Useful Tool In conjunction with the study’s release, the website www.WeAreApartments. org breaks down the data by each state and 40 key metro areas. Visitors can also use the Apartment Community Estimator—or ACE—a tool that allows users to enter the number of apartment homes of an existing or proposed community to determine the potential economic impact within a particular state or metro area. For more information, visit www. WeAreApartments.org/metro/SanFrancisco. RH The National Apartment Association (NAA) is America’s leading advocate for quality rental housing. For more information on this study, go to www.WeAreApartments.org.
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EBRHA MEMBER APPRECIATION: BASEBALL NIGHT SPONSORED BY
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real estate
Seller Beware
Why selling your property off-market is not in your best interest. BY JOHN CARONNA
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f you are considering selling your multi-unit property, how you start your relationship with your real estate agent has a tremendous impact on the final results. As a multifamily property owner in the East Bay, I receive postcards and letters in the mail touting the expertise of real estate agents. As a real estate agent myself, specializing in multifamily properties, I also send out postcards with information to owners when I sell a property in their area. In the past year, I have noticed a trend with regards to the information on the postcards and the letters that I receive. They are always addressed to me as the apartment building or multifamily property owner. The postcard or letter will often describe the recent transactions the company or agent has worked on. I 22 RENTAL HOUSING
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to market the property via the MLS listing service or LoopNet, they present you with a buyer. This has always been part of the investment real estate market, as there has always been a segment of agents that are truly only interested in making the most income without regards to why this is not best for the multifamily owner. In the past, I’ve felt that the current owner would be best served if they had their agent representing them and the buyer had a different agent. It’s really in the best interest of each party to have someone working for each client exclusively.
Persuasive Agents I’ve witnessed first-hand these situations (many times in the past 18 months) in which the owner is convinced by their agent that the top offer will come from one of his or her clients, with persuasive arguments such as, “I have a number of highly qualified buyers” or “I will get you the top price without putting your property on any of the listing services.” They may also say, “I know all the buyers, I’ve worked with them, and we will get you that price” or “In this market, selling your property off-market is the best method.” The agent’s argument can be very persuasive and much less of a hassle for you and your tenants. What could be better than the promise of a smooth sale of your find this information very useful and property and at a price you’ve told the it educates me on the investment real agent you want or hope to achieve? estate market in the East Bay. Similar There is one HUGE problem with to EBRHA classes, this type of valuable this strategy: it almost certainly will cost information is essential to being a sucyou, the owner, a substantial amount of cessful property owner. money in the end. In many instances, the agents show In the current properties in which they “In the past, I’ve investment property represented the owner, felt that the curenvironment with and also tout how they rent owner would rents skyrocketing and represented the buyer. be best served if historically low interest It’s the next part that they had their agent rates, the demand from is shocking to me as real representing them buyers far exceeds the estate agent. Often, in and the buyer had number of properties for bold letters, the postcard a different agent. sale. We as owners can will label a property as It’s really in the best only estimate what our “Off-Market.” In other interest of each properties are worth. words, the real estate party to have someIf you’ve owned your agent represents you, the one working for property for 10-15 years owner, and earns a comeach client excluor more, as I have, we mission. Then, without sively.” may not know the value spending a single dollar
PHOTO: FLICKR USER BUNCHES AND BITS (KARINA)
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of our properties. As a real estate professional, I continually see properties sell for substantially more than I or anyone at the broker’s tour could have guessed. If you agree to let a real estate agent sell your property to his or her client, or through an agent in his or her office, without letting every possible buyer have an opportunity to view and consider the property, as the seller, you could lose 10-20 % in the ensuing sale. This could translate to $75,000-$300,000 less. The stark reality is that one person does truly benefit, and that is the agent who convinced you as the owner that this was the best path. In this market, it is common to see properties selling for amounts that set new standards based on cost per unit or multiple of gross annual rent. Attract More Buyers Follow these steps to ensure your sale attracts the greatest number of buyers and it may help you receive the maximum return on your investment: 1.) Ask your agent to develop a marketing plan. What is their vision to sell your property? 2.) Insist that your agent or broker list your property on MLS/Loopnet. Do not sell your property Off-Market. 3.) Your broker should not limit the potential buyers to only their existing clients. 4.) Make sure your property is viewed by the widest possible group of buyers. Seller Beware It’s simply not possible for any real estate agent to predict what buyers are willing to pay for your apartment building. They can, however, give you a very educated range, or minimum value. When you’re considering selling your multifamily property and any agent suggests that he can sell your property in the above described methods, it’s important to understand that it is not in any way in the seller’s best financial interest. RH John Caronna has been an East Bay-based apartment investment-grade real estate specialist and apartment building owner since 1999. He can be contacted at (925) 253-4648 or john. caronna@camoves.com.
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capitol intelligence
Delivering our Message Help EBRHA defeat bills at its annual Legislative Day event in Sacramento. BY RON KINGSTON
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BRHA’s annual Legislative Day is back in 2015. This year, SB 8, a bill to expand sales and use taxes to include taxes on services, even those provided by landlords, has been introduced in the California State Legislature by newly elected senator Bob Hertzberg. If passed, all rental income will be subject to charging a sales tax on rent and paying sales tax on every service provider that apartment owners rely upon including pest control, handymen, electricians, and plumbers. EBRHA has made this a top priority bill for defeating in 2015. And if that wasn’t enough to whet your appetite, you may find AB 396 (Jones-Sawyer) more objectionable. The bill proposes to prohibit landlords and managers from denying a rental unit to any person that has a criminal record, including sex offenders and others convicted of crimes against persons and property. An important step in defeating the bills will be through a strong and 24 RENTAL HOUSING
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offensive. EBRHA is inviting all of its members to participate. Legislators need to hear from EBRHA members because it is apartment owners who are seriously impacted by the laws they vote on. Hearing from EBRHA members has also made real difference over the past few years— years in which our lobbying efforts have helped defeat every single bill that was bad for our industry. Last year for example, we lobbied against three bills on Leg. Day, which included two bills restricting a landlord’s right to go out of business under the Ellis Act, and another bill allowing tenants an unrestricted right to grow food crops on the rented property. Due in large part to the lobbying efforts of our members and other rental property owners who attended Leg. Day last year, the Ellis Act bills were defeated, and the gardening bill was substantially amended to give property owners discretion to limit the size and establish the area where food crops may be grown. In previous years, our Leg. Day lobbying has helped defeat other egregious bills, like Senator Mark Leno’s bill from 2013 which would have given tenants a right to sue for interest on their security deposits. The voices of our membership have been strong and powerful. We hope to continue in that tradition at Leg. Day 2015. Led and trained by a very experienced team of lobbyists, volunteers will be well prepared and equipped to sit down with their legislator to discuss apartment industry policies. We will provide members with detailed analysis of all the laws that will be lobbied that day, and background information on all of the legislators in our districts. Members will also be trained, and provided a packet containing everything they will need to feel confident and have a successful day. We look forward to seeing EBRHA members at the state capital on Leg. Day in full force. RH
coordinated effort at this year’s annual Legislative Day (also known as “Leg. Day” for short). Leg. Day is one of the more important days of the year for EBRHA and its members. It is the one day in which EBRHA’s leadership and its members get a chance to make a real difference in the public policy and laws affecting the residential rental property industry. On Leg. Day, EBRHA, its members and other rental property owners have the full attention and ear of the state Senators and Assembly Members representing our districts. It is an opportunity for us to discuss issues of great importance to our membership and our industry. On Leg. Day, EBRHA teams up with other apartment associations to deliver a cohesive message about current legislation that hurts the apartment industry. This year, one of the bills all of the apartment associations will be lobbying aggressively together will be the tax-onservices bill, SB 8. As currently written, the term “services” encompasses any and all landlord services. That means despite that fact that rental income is taxed as income, it will also be subject to an additional sales tax. Aren’t we taxed enough? This year’s Leg. Day event at the State Capitol in Sacramento is scheduled fittingly for “Tax Day,” April 15, 2015. On “The voices of our membership have Tax Day, our members been strong and will have the opportunity powerful. We hope to sit down with state to continue in that lawmakers to explain to tradition at Leg. Day them why a tax on rental 2015.” income is obnoxious and
Ron Kingston is the EBRHA state lobbyist and president of the California Political Consulting Group. He can be reached at 916-447-7229 or ron@calpcg.com.com or 510-972-4941.
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FEATURE
26 RENTAL HOUSING | APRIL 2015 East Bay multifamily buildings
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2006 Redux? A healthy multifamily market is pushing lenders to put out dollars efficiently. But is a crash near? BY MARC LIPSETT
PHOTO: ESTEBAN CORTEZ
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here has been a lot of talk of froth in the multifamily market. For buyers and brokers, there are bidding wars for the few properties on the market and many off-market single broker deals. Lenders are seeing new competition and largely outnumber brokers at most industry events. Some of the recent signs of a very buoyant market for loans: reduced stress rates and lenders underwriting at the actual rate; reduced debt service coverage at one major lender for low loan to value loans; lenders offering seconds or lines of credit against commercial properties; bridge lenders offering up to 75% financing on un-stabilized properties; lenders offering more and longer interest only periods. There are now as many conduit lenders (36) as at the financing peak in 2006. So is a crash near? On the positive side, the US economy is just starting to see the broad-based recovery that typically lasts years. Incomes are just starting to grow again and the Great Recession did not see the commercial real estate cataclysm that was predicted. In fact there were opportunity funds that closed and gave investors back their money because the torrent of commercial foreclosures never came. The balance sheet of the US consumer is in the best shape that it’s been in years while the finances of states, cities and the federal government are also healthier and improving. In short, the US economy is the best in the world. In this low interest rate environment, lenders are under intense pressure to put out dollars efficiently and the record of commercial real estate lending, especially to the multifamily sector, has been very good.
Rate Check
The last time we checked in with you, May of 2014, we said that rates were very low but had recently risen sharply. True again. Last year, the big news at this time was the end of quantitative easing, which pushed rates up nearly half a point. Early this year ebrha.com
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“In this low interest rate environment, lenders are under intense pressure to put out dollars efficiently and the record of commercial real estate lending, especially to the multifamily sector, has been very good.” rates dropped on deflation fears; problems in the Eurozone; the Ukraine crisis and slower growth out of China. Ten-year Treasuries recently rose 40 bps based on stronger European growth and a general ebbing of fear, but as of this writing, the 10-year Treasury is nearly ½ point lower than a year ago.
The Agencies
Fannie Mae and Freddie Mac are the giants of the multifamily finance industry with 44% of outstanding multifamily debt versus 28% for all the banks combined. They were set up as agencies of the Federal government in the 1930s. Over time, they became independent stock companies but were so closely tied to the Federal Government and National Housing Policy that they were bailed out by Washington during the last financial crisis. Loans secured through agency financing are packaged as bonds and sold to investors. Their yields are only slightly higher than Treasury yields, thus assuring low rates for borrowers. Their typical loan is fixed for 10 years with a balloon payment and a yield maintenance pre-pay penalty. Agency loans usually provide the lowest fixed rates available for smaller apartment loans. The big news in Agency Finance is the Freddie Mac small balance program which targets loans up to $5MM in core metropolitan markets like the San Francisco Bay Area. The loan amortizes over 30 years and is fixed for 3, 5, 7 or 10 years with a step down pre-payment penalty and an adjustable rate “tail.” On the five year program, Freddie underwrites the loan at the actual rate, which has recently been around 3.5% with 1.20 debt service coverage. This achieves higher loan dollars than most bank loans. Costs are 1 point and $5,500. This program solves three of the problems with agency loans: not enough loan dollars in low cap markets; balloon payments and yield maintenance pre-payment penalties.
Banks
Bank loans are funded with deposits and banks do not have a fixed cost on those deposits, so they prefer to make adjustable rate loans. However, a few Banks specialize in apartment loans, which typically feature 30-year fully amortizing adjustable rates 28 RENTAL HOUSING
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fixed for a period of 3, 5, 7 or 10 years. There is a pre-payment penalty on the fixed portion of the loan which is generally a defined number of points. After the fixed portion of the loan, the pre-payment penalty disappears and the loan becomes a fully amortizing adjustable rate loan. Bank loans are typically limited to 75% of the value of the property value and per federal regulation the income of the property must support the debt. As cap rates decline in the Bay Area, it is not unusual to find properties qualifying for low loan amounts due to their income. This is especially true in rent-
controlled areas. Bank loans have been the dominant loan in the small apartment market in the Bay Area because they can be obtained quickly and cheaply, rates can be locked at application; they can underwrite to higher loan dollars and they have the security of a fully amortizing loan as well as a flexible and defined pre-payment penalty. The big news in bank loans is lenders underwriting to the start rate and lenders offering 40-year amortization to solve the problem of low leverage for buyers.
Credit Unions
Credit Unions are a little known source for apartment financing. Their programs are very similar to traditional banks but they do not have pre-payment penalties. However, since credit unions do less of this business and do not charge pre-pays, their rates, processing fees, and third party charges are higher. Credit unions are smaller with lower capital bases, so they go in and out of the market.
Conduits
The Wall Street vehicle that collapsed during the financial crisis is making a comeback and they love apartment loans. Conduits self-fund loans for a short period while they organize a pool of loans of different types of properties, in varied locations, to securitize and sell to investors. The typical conduit loan is a non-recourse 10-year loan amortized over 25 years with reserves for taxes, insurance and capital improvements. The minimum size for a conduit loan is $2 million and there is a minimum of $35,000 in due diligence and legal costs not including any loan brokerage fees. Conduit loans have a defeasance pre-payment penalty. In general conduit loans are most suited for a non-recourse fixed rate loan that can’t be done elsewhere. Perhaps it’s in a small market or the borrower is less desirable or wants interest only payments.
Life Insurance Companies
Unlike banks, life insurance companies can predict their capital inflows from premiums and it’s their business to foretell their
FRANK FIALA ROOFING, INC. All Types of Roofing & Repairs obligations, so life insurance companies make fixed-rate loans. Life insurance companies view real estate loans as a higher yielding substitute for the ultrasafe Treasury bonds they could buy, so rates track the Treasuries and loans are conservative. Ten-year fixed rate loans are generally priced at about 200 bps over the Ten Year Treasury yield. Life insurance companies can make spectacularly low fixed rate loans on extremely secure apartment projects, but loan costs are high and they generally start to make sense at about $5 million and over. Since these are pure portfolio loans, they can have a custom structure or a single loan could secure multiple properties. While the insurance companies prefer yield maintenance pre-payment penalties, step down prepayment penalties can be available at higher cost. Most life insurance companies have higher costs for legal and documentation, so they are only cost effective for larger loans, but there are several companies that are good lenders for smaller urban infill properties that don’t fit elsewhere. For example, they would loan on an apartment or three above retail. These companies have low costs similar to banks. Life insurance companies generally require a 25 year amortization which reduces cash flow.
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The Booming Bay Area
While the Bay Area has been booming, powered primarily by our tech economy, the rest of the nation and even the world have been in slow growth mode. So Bay Area apartment owners have had a double benefit: rising rents and values, driven by rising effective demand while we have low rates influenced by challenges in the nation and in the world. RH The above article is the opinion of Marc A. Lipsett and does not represent the views of his employer. Marc A. Lipsett is Director of Loan Production at Intervest Mortgage, a mortgage bank owned by Umpqua Bank which makes loans for the Umpqua portfolio and correspondent Life Insurance Companies and arranges loans for Fannie Mae, Freddie Mac, conduits, credit unions and other banks. He can be reached at 510-622-8515.
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30 RENTAL HOUSING | APRIL 2015 Restaurants and shops in Alameda
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PHOTO: COURTESY OF CITY OF ALAMEDA
FEATURE
CITY OF ALAMEDA
SPOTLIGHT Alameda City Manager John Russo tells Rental Housing what sets the city apart. BY TINA BOCHEFF
City Spotlight is a new series that highlights the latest trends in housing, transportation, jobs, and more—along with unique features and fun facts—about the cities EBRHA serves throughout Alameda and Contra Costa Counties.
RENTAL HOUSING: TO GIVE OUR READERS A SENSE
cost and availability, land use and density regulations, and lack of robust transportation facilities and services; New affordable housing unit development barriers include land cost and availability, high construction cost, loss of redevelopment funding.
rate rental housing; 2% is considered affordable housing (rent restricted by covenant, Section 8, etc.)
RH: WILL NEW HOUSING STOCK INCREASE AFFORDABILITY FOR BUYERS AND RENTERS? JR: The City anticipates that increasing the housing stock will
OF THE HOUSING LANDSCAPE IN ALAMEDA, PLEASE INDICATE THE PERCENTAGES OF EXISTING HOUSING STOCK. JOHN RUSSO: 53% is single-family homes; 47% is market-
RH: ARE THERE PLANS TO INCREASE THE NUMBER OF HOUSING UNITS? IF SO, PLEASE ESTIMATE THE NUMBER OF NEW SINGLE-FAMILY HOMES, MARKET RATE RENTAL UNITS, AND AFFORDABLE UNITS THAT WILL COME TO MARKET OVER THE NEXT 1, 5 AND 10 YEARS. JR: New single-family homes/townhomes: 125 in one year,
639 in five years, and 155 in 10 years; New market-rate rental units: 351 in five years, and 225 in 10 years; New affordable housing units: 11 in one year, 262 in five years, and 113 in 10 years. Rental Housing note: 1 year indicates by 2015, 5 years indicates between 2016 - 2020, and 10 years indicates between 2021-2023. RH: WHAT BARRIERS, IF ANY, EXIST IN REGARD TO THE DEVELOPMENT OF NEW HOUSING? JR: Potential Barriers to Development: New single-family
homes development barriers include land cost and availability; New market-rate rental unit development barriers include land
result in more competitive pricing for market-rate for-sale and rental product. There is currently a lot of pent up demand for housing and not enough new housing to meet that demand. As a result, a number of residents who can afford to purchase a home are renting, which is putting upward pressure on rents, and the limited new housing, primarily the new product at Alameda Landing, is selling quickly and is at the high-end of the market. RH: ARE THERE ANY PLANS TO MAKE THE PURCHASE OF HOMES MORE ATTAINABLE FOR LOW-INCOME RESIDENTS? JR: The City has a program that provides down payment
assistance to low- and moderate-income homebuyers through a low-interest/deferred second mortgage. While we have assisted a number of homebuyers in the past, it is a challenging program to run in a tight housing market when low- and moderate-income households find housing within their price ebrha.com
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“I AM MOST PROUD OF THE PROFESSIONAL STAFF THAT WORKS HARD EVERY DAY TO MAKE ALAMEDA THE BEST PLACE TO LIVE, WORK AND PLAY.” range. We also have an inclusionary housing program that requires home builders to provide 15% of their residential units (sale or rental) to very low-, low- and moderate-income families at affordable prices. The City’s inclusionary program has been effective in allowing low-income residents to purchase housing in Alameda. RH: MANY RESIDENTS HAVE EXPRESSED CONCERN ABOUT TRAFFIC CONGESTION AND GRIDLOCK AS ALAMEDA GROWS. WHAT PLANS ARE IN PLACE TO ADDRESS THIS CONCERN? JR: Alameda is actively working to expand transportation ser-
vices and facilities. These efforts include but are not limited to: mandatory funding for transportation service operations (TDM) and transportation facility improvements from all new development (DIF); modification to city streets and roads to improve transit, bicycle, and pedestrian movement; signal and road improvements to improve vehicle movement; partnerships with AC Transit and Water Emergency Transit Authority to expand transit and ferry services; and partnerships with local property owners and businesses to expand shuttle and bus services to regional transportation facilities (ferry, bus, and train). RH: WHAT ARE THE PLANS FOR JOB GROWTH IN THE CITY OF ALAMEDA? JR: With the local economy recovering from the Great Reces-
sion, a number of Alameda-based businesses are expanding their operations. These include: VF Outdoor plans to build a new 55,288 square foot “Innovation, Warranty, and Digital Lab” building at their existing corporate campus at Harbor Bay; Penumbra, a leader in the development and production of medical devices for treating strokes and other vascular diseases, recently executed a lease for an additional 78,000 square feet; and ABB Optical Group, the nation’s largest distributor of soft contact lenses, extended its lease for 10 years and added 45,000 square feet, nearly doubling its size to 95,000 square feet. Also, there are two new hotel proposals at Harbor Bay Business Park. Most of the job growth that takes place during the current recovery will occur at Alameda’s two business parks and at Alameda Point. The business parks, which had high vacancy rates during the recession, have capacity to absorb future job growth. At Alameda Point, clean tech companies Natel Energy, Makani Power (Google), and Wrightspeed are scaling up their 32 RENTAL HOUSING
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operations and Spirits Alley’s success is fueling Alameda Point’s leasing activity for the remaining ready-to-occupy sites. RH: IN WHAT INDUSTRIES WILL JOB GROWTH BE GREATEST? JR: Job growth is anticipated to be the great-
est in the City’s major commercial and industrial clusters: computer software; alternative energy technologies; health care and biotechnologies; maritime industries; and specialty beverages and food production.
RH: HOW MANY NEW JOBS DO YOU ANTICIPATE WILL OPEN UP OVER THE NEXT 1, 5, AND 10 YEARS? JR: Plans for Alameda Point call for creating over 5,000 new
jobs. In addition, as noted above, it is anticipated that the City’s two business parks will provide most of the new jobs in the coming years. RH: BEYOND HOUSING, TRANSPORTATION AND JOBS, WHAT ARE THE MOST PRESSING ISSUES THAT THE CITY OF ALAMEDA IS CURRENTLY FACING? WHAT ARE THE PLANS TO OVERCOME THESE CHALLENGES? JR: The City’s biggest challenge is converting the opportunity
presented by the transfer of the former Naval Air Station into a vibrant new community with jobs, housing, open space and new VA clinic and hospital. Alameda Point is one-third of the City’s land mass and the largest development opportunity in the East Bay. The City has taken control of the development of the base by completing all of the environmental review and entitlement work and is now undertaking a thoughtful, controlled approach to securing private developers to develop the property consistent with the community’s values regarding mixed-use, transitoriented development, extensive recreational opportunities, and preservation of the City’s military heritage. RH: HOW IS THE CITY OF ALAMEDA HANDLING OTHER CRITICAL ISSUES THAT SURROUNDING CITIES FACE, LIKE CRIME AND BLIGHT? JR: The City is very fortunate that it has very little blight and
a low crime rate. We have a robust code enforcement program that we have invested in over the past several years, funding two new code enforcement officers, to ensure that we actively deal with graffiti, dumping at vacant lots, etc. We have an excellent Police Department that engages in proactive police work and is very responsive when we do have crime “hot spots” spring up. RH: WHAT SETS ALAMEDA APART FROM OTHER LOCAL CITIES? JR: Alameda has a very active and involved citizenry, with an
extraordinarily high number of new and long-term residents and businesses volunteering in nonprofit organizations, clubs and associations. These civic organizations are the foundation that makes Alameda a great place to live and work, and brings
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Alameda Spotlight PHOTOS COURTESY OF CITY OF ALAMEDA
people together with varied opportunities to know one another. It is a remarkable community culture that really loves and cares for the city. RH: WHAT ABOUT ALAMEDA ARE YOU MOST PROUD OF? JR: I am most proud of the professional
The current housing landscape in Alameda shows that 53% is single-family homes and 47% is market-rate rental housing. Of that, 2% is considered affordable housing.
staff that works hard every day to make Alameda the best place to live, work and play. We strive to provide essential governmental services in a transparent, efficient, effective manner. Our Police and Fire Departments ensure that Alameda is one of the safest communities in the Bay Area. We have more acres of wellmaintained parks and open spaces than many communities. Our streets are kept up. Our recently re-designed one-stop Permit Center provides centralized building and planning services for the community. We have a comprehensive library system. Taken together, our governmental services are a large part of Alameda’s excellent quality of life. RH: WHAT ABOUT ALAMEDA ARE YOU MOST EXCITED ABOUT? JR: Alameda Point. With the convergence
“Our police and fire departments ensure that Alameda is one of the safest communities in the Bay Area,” Alameda City Manager John Russo said. “We have more acres of well-maintained parks and open spaces than many communities.”
of a strong economy and the Navy’s conveyance of land, there is tremendous commercial activity and opportunity at Alameda Point. Clean tech companies are scaling up production, new businesses are moving in, and Spirits Alley is being recognized as a regional destination. RH: WHAT IS ALAMEDA’S BEST KEPT SECRET? JR: Until now, Alameda’s best kept secret
was Spirits Alley. Spirits Alley is a row of former airplane hangars at Alameda Point that has been adapted and reused by a cluster of artisan distilleries and urban wineries. But this secret in-spot is fast becoming known as a popular regional destination. Sunset Magazine recently named it as a finalist in its inaugural Sunset Travel Awards Contest. RH Rental Housing note: More to come regarding Alameda and its latest discussions on rent control policies. Spirits Alley is a row of former airplane hangars at Alameda Point that has been adapted and reused by a cluster of artisan distilleries and urban wineries. It is fast becoming known as a popular regional destination. RH 34 RENTAL HOUSING
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John Russo is native of Brooklyn, New York and was appointed City Manager for the City of Alameda in June 2011. He can be reached at 510747-4700 or citymanager@alamedaca.gov.
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THE POLITICAL EFFORTS OF EBRHA COME FROM ITS POLITICAL ACTION COMMITTEE. The EBRHA-PAC is a nonprofit and nonpartisan committee, the purpose of which is to support local ballot measures and candidates that have a positive impact on the rental housing industry.
TO GET INVOLVED OR TO DONATE TO THE EBRHA-PAC, CONTACT: NEWS@EBRHA.COM OR VISIT EBRHA.COM/PACDONATION
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COLUMN
government affairs
into how the district lines are drawn for their elected officials. According to the National Conference of State Legislatures, Arizona, California, Hawaii, Idaho, Montana, New Jersey and Washington all have independent commissions that draw the lines which are not subject to approval by the state legislature. Florida, Iowa and Maine also have independent commissions, but their district maps are ultimately approved at the state house. Excluding those states that only have one Representative, the Congressional lines in the remaining 34 states are drawn by the state legislature. The plaintiff in the case before the SCOTUS is the Arizona State Legislature while the defendant is the Arizona Independent Redistricting Commission. The question on the table is whether the Legislative updates from NAA’s Senior Vice U.S. Constitution permits an entity other than the state legislature to craft ConPresident of Government Affairs. BY GREG BROWN gressional districts. Arizona adopted a commission-style system in 2000 through districts. More specifically, who deteran amendment to the state constitution. mines who represents us in the House of In 2012, after the Commission drew new Representatives? Congressional boundaries, the Legislature In several past editions of this filed suit claiming the U.S. Constitution column, I have bemoaned one of the does not allow the power to be taken out central causes of our hyper-partisan of the hands of elected officials when it political dialogue—gerrymandering of comes to Congressional district boundarCongressional districts by state legislaies. tures. Though this strategy is not new, it According to Lyle Denniston of seems to have gotten worse in the past scotusblog.com, the plaintiff’s argument several rounds of the census. Repubrests on specific language in the Election lican and Democratic-controlled state Clause of the Constitution saying that the legislative bodies draw the lines so that “…times, places and manner of holding the party in power gets the most seats elections for Representatives shall preand the opposition is concentrated in scribed by the state legislature thereof…” as few seats as possible. This shifts the They take a strict reading of this while electoral competition from the general the defendant takes a broader reading of election to the primary where the most that clause, especially in light of federal conservative or liberal candidates win he New Year has already been law passed in 1911 to implement this out. This gives enormous power to the full of high profile issues for the provision which says that redistricting worst fringe elements from both sides Supreme Court of the United shall be done “in the manner provided by and leads us to the current situation—a States (SCOTUS). In February, the the law” of that state. House nearly devoid of Court heard arguments over the use “I also believe that Arguments were made inter-party collaboration of disparate impact theory in identifythe apartment indus- in front of the court on or compromise. Why ing violations of the Fair Housing Act. try suffers since our March 2 and according are we surprised that we This month, a case comes before the issues require supto some observers, the can’t even get a fundCourt that will determine the fates of port from both sides Court did not seem syming bill passed for the 9 million individuals currently receivpathetic to the rationale Department of Homeland of the aisle working ing health care under the Affordable together. If this is of the lawyers speaking Security? Care Act. Finally, the SCOTUS will hear further eroded, I fear on behalf of the ComBut some states arguments about one of the most basic our public policy mission. recognized this probelements of our electoral system—the objectives will be set So, who wins and lem some time ago and borders which determine Congressional back.” who loses if the Court injected independence
Who Wins and Who Loses
T
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determines that independent commissions for drawing Congressional lines are not allowed under the Constitution? Certainly, political parties, especially those who control a state legislature, will win because they are better able to draw Congressional lines to their party’s benefit. The losers are the rest of us since it will only increase the partisanship and division in the Congress which undermines its ability to address the nation’s priorities. I also believe that the apartment industry suffers since our issues require support from both sides of the aisle working together. If this is further eroded, I fear our public policy objectives will be set back. The SCOTUS should release its decision by June of this year. That’s all for now. Talk with you next month. RH Greg Brown is the Senior Vice President of Government Affairs with the National Apartment Association. He can be reached at 703-797-0615 or greg@naahq.org.
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esq. & a
A Full House
What should property owners do when they discover unauthorized occupants living in a rental unit? BY CLIFFORD FRIED
Q
One of my tenants has three other people living with her in her apartment, but she is the only one who applied and signed a lease when she moved in. I think they’ve been staying there for more than a month, and my utility bills are through the roof. Can I ask them to leave? Do they now have tenant protections? What is the best way to handle this situation?
A
The rights and obligations of landlords and occupants are determined by laws and your lease agreement. Your lease with your tenant will dictate most rights and obligation, subject to State 38 RENTAL HOUSING
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and local laws. If your lease prohibits subletting, you can serve a Three Day Notice to Perform or Quit. You should do this before you accept the next rent payment. This notice requires all occupants, including the original tenant, to vacate if the new roommate does not move out. Some local ordinances impose additional notice requirements including a warning notice before serving an eviction notice. If you feel an eviction notice is overkill, you should at least object in writing about your tenant bringing in new roommates. Give a deadline to cure and a warning that an eviction is being contemplated. If the cure doesn’t take
place, then serve the eviction notice. If your lease lacks a no sublet clause, you must accept the new roommates and cannot ask them to leave. Most modern residential leases has some type of prohibition against subletting. At a minimum, leases require prior written consent before the tenant may sublet. Even if you have a no sublet clause, the state or local law may prevent you from objecting to new roommates. And here is where the system is unfair to landlords. If prior consent is required prior to subleasing, state law says that consent may not be unreasonably withheld. What is unreasonable is up to the courts. If you rent to one person and now there are four, there could be excessive wear and tear on the unit that you didn’t bargain for when you set the initial rent. Or if the landlord agreed to pay for utilities for one person, it is reasonable for the landlord to refuse consent to more occupants who will consume more water, electricity, etc. Unfortunately, many local laws prohibit landlords from raising rent simply because there are more occupants in possession, even if utility bills are going through the roof. If your lease prohibits subletting, you might be able to evict, but you can’t raise the rent. Subtenants receive most of the protections that master tenants obtain under local rent laws. Take a close look at the definition of tenant in your rent ordinance. It most likely includes subtenant in the definition. And even if it didn’t, state law says that a tenancy by consent can be created where the landlord knows of the subtenant’s occupancy and does nothing to object. We recommend that every lease contain an absolute prohibition against subletting. And, of course, landlords must enforce that prohibition whenever the master tenant brings in roommates after the lease is signed. —CLIFFORD FRIED RH
The information contained in this article is general in nature. Consult the advice of an attorney for any specific problem. Clifford Fried is an attorney with Fried & Williams LLP. He can be reached at 510-625-0100 or cfried@ friedwilliams.com.
PHOTO: MATT BIDDULPH / CREATIVE COMMONS
COLUMN
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community calendar EVENTS & CLASSES
april
may
THURSDAY, APRIL 9 Landlord 101 Tori Blanca, CCRM, EBRHA Members: Free; Non-Members: $69 2:00 p.m. – 3:30 p.m. WEDNESDAY, APRIL 15 Legislative Day in Sacramento Contact Tori Blanca at tblanca@ebrha.com or 510-893-9873 to RSVP or visit www.ebrha.com/PAC for more information All Day Event WEDNESDAY, APRIL 15 Renovation, Repair and Painting Course • This EPA-accredited training course will certify workers as required under the new law for anyone who disturbs lead-coated surfaces during repair or renovation of pre1978 housing. • This 8 hour course was designed to train contractors who perform building renovations or repairs or painting and how to work safely and comply with the EPA regulations. • The course addresses health concerns, regulations, before, during and after work procedures, as well as record-keeping and training non-certified workers. The class consists of a point presentation of the new RRP regulations and hands on student participation. There is an exam at the end of the course and students must pass at 70%. Instructor: Richard MacFarlane, Benchmark Environmental Engineering Members: $250; Non-Members: $325; Limited seating Registration deadline is Friday, April 10 8:00 a.m. – 5:00 p.m. FRIDAY, APRIL 17 Renovation, Repair and Painting Course (Recertification) • Please bring original RRP certificate the day of class. Instructor: Richard MacFarlane, Benchmark Environmental Engineering Members: $150; Non-Members: $250; Limited seating Registration deadline is Friday, April 10 8:00 a.m. – Noon TUESDAY, APRIL 21 Fair Housing: It’s a Right Angie Watson-Hajjem, Fair Housing Specialist, ECHO Housing Members: Free; Non-Members: $69 2:00 p.m. – 3:30 p.m.
TUESDAY, MAY 5 An Overview of Services Offered by the Alameda County Healthy Homes Department Dale Hagen, Healthy Homes Department Members: Free; Non-Members: $69 2:00 p.m. – 3:30 p.m. THURSDAY, MAY 7 Don’t Let Your Investment Go Up In Smoke Serena Chen, American Lung Association Members: Free; Non-Members: $69 2:00 p.m. – 3:30 p.m. SATURDAY, MAY 9 EBRHA Annual Green Membership Meeting Topics: • Waste Management on Food Scrap Recycling Program • StopWaste.org on Zero Waste Goal and Hazardous Waste Disposal • Build It Green on Energy Upgrade CA • Martin Morehouse of Sun Light and Power on Solar Energy and Solar Hot Water All sessions moderated by Dan Antonioli, EBRHA Green Committee Chair and Green building contractor 10:00 a.m. - Noon TUESDAY, MAY 12 Legal Issues Affecting Short Term Rentals (Airbnb) Steve Williams, Fried and Williams LLP Members: $39; Non-Members: $69 1:00 p.m. – 3:00 p.m. TUESDAY, MAY 19 The Eviction & Tenant Protection Ordinance Michael Shepherd, The Shepherd Law Group Members: $39; Non-Members: $69 6:30 p.m. - 8:30 p.m. MONDAY, MAY 25 EBRHA Office Closed TUESDAY, MAY 26 Section 8 Overview Michelle Hasan, Director of Leased Housing, Oakland Housing Authority and Teela Carpenter, Housing Assistance Manager, Oakland Housing Authority Members: Free; Non-Members: $69 2:00 p.m. - 3:30 p.m.
WEDNESDAY, APRIL 22 Economic & Legislative Forum Scott’s at Jack London Square Topics: • Economic Forecast • Rental Housing Outlook • Lender and Broker Updates • Legislative Landscape See ad on back cover for agenda and speaker information Go to www.ebrha.com/forum to purchase tickets 8:00 a.m. - 11:30 a.m.
No Refunds on no shows; Seats fill fast, register in advance! To register and pay, visit ebrha.com or call (510) 893-9873. Unless noted, all classes and events are held at the EBRHA Education Center, 360 22nd St., Suite 240, Oakland 40 RENTAL HOUSING
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Oakland RENT ADJUSTMENT PROGRAM FEE
Annual fees are $30 per unit and are due March 1. Owners are allowed to pass through $15 to tenants. BUSINESS TAXES & REGISTRATION
Registration fee is $60 and is due March 1. Tax is based on annual gross rental income at a rate of $13.95 per $1,000 of gross rental income. Tax renewal declarations are mailed at the beginning of the year. LANDLORD PETITION FOR EXEMPTIONS
Claims covered include new construction, substantial rehabilitation, and single-family homes or condominiums.
ANNUAL ALLOWABLE RENT INCREASE
2014-15 (1.9%) A CPI increase of 1.9% became effective on July 1, 2014. Tenants may only receive one increase in any 12-month period, and the rent increase cannot take effect earlier than the tenant’s anniversary date. In addition, California law requires that for tenancies receiving greater than a 10% increase, a 60-day notice is required; if the increase is 10% or less, a 30-day notice is required. Owners can only impose “banked” rent increases equal to three times the current annual allowable rent increase rate. See schedule at right.
PERI OD
AM O U N T ( % )
JULY 1 ‘14 - JUNE 30 ‘15 . . . . . . . . . 1.9 JULY 1 ‘13 - JUNE 30 ‘14 . . . . . . . . . 2.1 JULY 1 ‘12 - JUNE 30 ‘13 . . . . . . . . . 3.0 JULY 1 ‘11 - JUNE 30 ‘12 . . . . . . . . . 2.0 JULY 1 ‘10 - JUNE 30 ‘11 . . . . . . . . . 2.7 JULY 1 ‘09 - JUNE 30 ‘10 . . . . . . . . . 0.7 JULY 1 ‘08 - JUNE 30 ‘09 . . . . . . . . . 3.2 JULY 1 ‘07 - JUNE 30 ‘08 . . . . . . . . . 3.3 MAY 1 ‘06 - JUNE 30 ‘07. . . . . . . . . . 3.3 MAY 1 ‘05 - MAY 30 ‘06 . . . . . . . . . . 1.9 JUNE 1 ‘04 - MAY 30 ‘05. . . . . . . . . . 0.7 JUNE 1 ‘03 - MAY 31 ‘04. . . . . . . . . . 3.6 Visit www.ebrha.com/members to see previous adjustments.
CAPITAL IMPROVEMENTS INCREASE FORMULA
FOR FURTHER INFORMATION CONTACT:
Oakland Rent Board 250 Frank H. Ogawa Plaza, Ste. 5313 Oakland, CA, 94612 510.238.3721 | www.oaklandnet.com
(70 % of Improvement Costs ÷ Number of Units) 60 months or 5 years REFER TO ORDINANCE FOR NOTICING, QUALIFICATIONS AND AMORTIZATION PERIODS.
Berkeley RENT STABILIZATION BOARD FEES
Annual fees are $194 per unit and are due July 1. Owners are allowed to pass through $4 to tenants. RATES OF ANNUAL PAYMENT OF SECURITY DEPOSIT INTEREST P E R I OD A MO UN T FEDERAL RESERVE RATES
DEC. 2014. . . . . . . . . . . . . . . . . . . . . N/A DEC. 2013. . . . . . . . . . . . . . . . . . . 0.3% DEC. 2012. . . . . . . . . . . . . . . . . . . 0.5% DEC. 2011. . . . . 0.4% (CORRECTED 11/3/2011) DEC. 2010. . . . . . . . . . . . . . . . . . . 0.4% DEC. 2009. . . . . . . . . . . . . . . . . . . 1.1% DEC. 2008. . . . . . . . . . . . . . . . . . . 3.4% DEC. 2007. . . . . . . . . . . . . . . . . . . 5.3% DEC. 2006. . . . . . . . . . . . . . . . . . . 5.1% DEC. 2005. . . . . . . . . . . . . . . . . . . 3.4%
ANNUAL ALLOWABLE RENT INCREASE
2015 (2.0%) PERI OD AM O U N T
Beginning in 1998, adjustments are not allowed for the year following a tenant’s initial occupancy. To obtain the maximum amount for a specific address, please use the “Rent Ceiling Database” calculator on Berkeley’s Rent Board website. Visit www.ebrha.com/members to see previous adjustments.
2015. . . . . . . . . . . . . . . . . . . . . . . . 2.0% 2014. . . . . . . . . . . . . . . . . . . . . . . . 1.7% 2013. . . . . . . . . . . . . . . . . . . . . . . . 1.7% 2012. . . . . . . . . . . . . . . . . . . . . . . . 1.6% 2011. . . . . . . . . . . . . . . . . . . . . . . . 0.7% 2010. . . . . . . . . . . . . . . . . . . . . . . . 0.1% 2009. . . . . . . . . . . . . . . . . . . . . . . . 2.7% 2008. . . . . . . . . . . . . . . . . . . . . . . . 2.2% 2007. . . . . . . . . . . . . . . . . . . . . . . . 2.6% 2006. . . . . . . . . . . . . . . . . . . . . . . . 0.7% 2005. . . . . . . . . . . . . . . . . . . . . . . . 0.9% 2004. . . . . . . . . . . . . . . . . . . 1.5%, + $3 (1% + $3 IF TENANCY CREATED AFTER JAN. 1999)
2003. . . . . . . . . . . . . . . . . . . . . . . . . 0% *ADDITIONAL ADJUSTMENTS ARE ALLOWED IF AN OWNER PAID FOR ELECTRICITY OR HEAT.
BERKELEY RATES
FOR FURTHER INFORMATION CONTACT:
DEC. 2014. . . . . . . . . . . . . . . . . . . 0.1% DEC. 2013. . . . . . . . . . . . . . . . . . . 0.1% DEC. 2012. . . . . . . . . . . . . . . . . . . 0.2% DEC. 2011. . . . . . . . . . . . . . . . . . . 0.3%
Berkeley Rent Board 2125 Milvia Street Berkeley, CA 94704 510.981.7368 | www.ci.berkeley.ca.us/rent ebrha.com
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vendor directory — CONTACTS, PRODUCTS & SERVICES ABATEMENT SERVICES
Environmental Remedies, Inc. Jaime Tamayo 925-519-6354 www.environmentalremedies.com P.W. Stephens Environmental Kimberly MacFarlane 510-651-9506 www.pwsei.com Water Damage Recovery Rick Walker 800-886-1801 www.waterdamagerecovery.net ACCOUNTING & TAX
Collins, Mason & Company LLP Teresa Mason 510-891-9000 www.cmcaccountants.com The Lee Accountancy Group, Inc. Jong H. Lee, CPA 510-836-7400 jhlee@theleeaccountancy.com APPLIANCE SALES & PARTS
Appliance Parts Distributor Mike De Fazio 510-357-8200 www.apdappliance.com Appliance Warehouse of America David Jepsen 510-921-1071 www.appliancewhse.com APPRAISERS
Access Appraisal: Apartment Specialists Joe Spallone 510-601-1466 www.accessappraisal.com Mark Watts Commercial Appraiser Mark A. Watts 415-990-0025 www.markwattscommercialappraisal.com ARCHITECTURE
InsideOut Design Pennell Phillips 510-655-1198 www.aboutinsideout.com ASSOCIATIONS
BOMA Oakland/East Bay Stephen Shepard 510-893-8780 www.bomaoeb.org Oakland Association of Realtors Sally Dunker 510-836-3000 www.oar.org Oakland Chamber of Commerce Barbara Leslie 510-874-4808 www.oaklandchamber.com ATTORNEYS - EVICTIONS/PROPERTY OWNER DEFENSE
Bornstein & Bornstein Daniel Bornstein 510-836-0110, x1007 www.bornsteinandbornstein.com Buresh, Kaplan, Feller & Chang Fred Feller 510-548-7474 www.bureshkaplan.com Ericksen Arbuthnot Jason Mauck 510-832-7770 www.ericksenarbuthnot.com Fried & Williams LLP Clifford Fried 510-625-0100 www.friedwilliams.com 42 RENTAL HOUSING
| APRIL 2015 |
ebrha.com
Law Offices of Daniel Riley Daniel Riley 415-823-6129 driley_813@msn.com Law Offices of Elaine Lee Elaine Lee 510-848-9528 www.elaineleeattorney.com Law Offices of Leon H. Rountree III Leon H. Rountree III 510-343-6299 www.leonrountree.com Richards Law John Richards 925-231-8104 www.richards-legal.com The Evictors Ed Nagy and Alan J. Horwitz 510-839-2074 The Shepherd Law Group Michael Shepherd 510-531-0129 www.theshepherdlawgroup.com ATTORNEYS - LAND USE/CONDO CONVERSION
Law Offices of Daniel Riley Daniel Riley 415-823-6129 driley_813@msn.com Law Offices of John Gutierrez John Gutierrez 510-647-0600, x2 www.jgutierrezlaw.com Richards Law John Richards 925-231-8104 www.richards-legal.com ATTORNEYS - REAL ESTATE/CORP.
Buresh, Kaplan, Feller & Chang Fred Feller 510-548-7474 www.bureshkaplan.com Burnham & Brown Jack Schwartz 510-444-6800 www.burnhambrown.com Ericksen Arbuthnot Jason Mauck 510-832-7770 www.ericksenarbuthnot.com Fried & Williams LLP Clifford Fried 510-625-0100 www.friedwilliams.com Law Offices of John Gutierrez John Gutierrez 510-647-0600, x2 www.jgutierrezlaw.com Richards Law John Richards 925-231-8104 www.richards-legal.com AUTOMOTIVE
Ken Betts Towing Services Ayub Azam 510-532-5000 www.kenbettscompany.com BANKING/LENDING
Chase Commercial Josh Milnes 510-891-4545 josh.milnes@chase.com Chase Commercial Ted Levenson 415-945-5430 ted.levenson@chase.com
Chase Commercial Neil O’Callaghan 415-315-8901 neil.ocallaghan@chase.com Cooperative Center Federal Credit Union Chris Perez 510-647-2127 cperez@coopfcu.org First Federal Savings & Loan Assoc. Anthony Moreno 415-460-2657 www.ffsavings.com First Republic Bank Jeff Fung 510-336-3907 www.firstrepublic.com Intervest Mortgage Marc Lipsett 510-622-8515 www.intervest-mortgage.com Luther Burbank Savings Larry Miller 925-627-2790 www.lutherburbanksavings.com NorthMarq Capital Brian Esquivel 415-433-4145 www.northmarq.com Opus Bank William Craun 925-648-5915 www.opusbank.com SF Fire Credit Union Herman White, Jr. 415-674-4808 www.sffirecu.org Torrey Pines Bank Dale Marie Golden 510-899-7536 dgolden@torreypinesbank.com BATHROOM & KITCHEN REMODELING
American Bath Enterprises, Inc. Larry Arcadi 510-785-2600 www.americanbathind.com APT Maintenance, Inc. Keith Berry 510-747-9713 www.aptmaintenanceinc.com KMK Contracting & Property Services Kevin Knobles 925-292-8667 www.kmkcontracting.com SGK Home Solutions Vladmir Merabian 408-264-6964 www.sgkhomesolutions.com CABINETS & COUNTERTOPS
Elegant Stone & Cabinets Linh Duong 925-954-8845 www.elegantstoneandcabinets.com CARPET CLEANING
Cleaner Carpets Ron Russell 510-522-1344 cleanercarpet@juno.com CODE COMPLIANCE/CONDO CONV.
Armstrong Development Barbara Armstrong 510-337-1998 barbaraarmstrong@comcast.net COLLECTION AGENCIES
Credit Bureau Associates Kathy Parsons 800-564-6440 www.cbacredit.com
vendor directory CONSTRUCTION
A-One Construction Dirksen Rogers 510-747-9713 www.a-oneconstruction.com APT Maintenance, Inc. Keith Berry 510-747-9713 www.aptmaintenanceinc.com Bayside Building Services & Pest Elimination Helmut Tutass 510-717-3506 pestcontrol1@writeme.com D.W. Hamilton Construction, Inc. D.W. Hamilton 510-919-0046 www.dwhamiltonconstruction.com Going Green Dan Antonioli 510-652-7593 www.going-green.co KMK Contracting & Property Services Kevin Knobles 925-292-8667 www.kmkcontracting.com Schafer Construction, Inc. Mike Barker 510-568-7200 www.schaferconstructioninc.com Smart Building, Inc. Sheryl Dron 510-444-7678 www.getsmartbuilding.com SpottCheck Consulting Susan Spott 510-816-1452 www.spottcheck.com W. Charles Perry & Associates W. Charles Perry 650-638-9546 www.wcharlesperry.com West Coast Premier Construction, Inc. Homy Sikaroudi 510-271-0950 www.wcpc-inc.com CONTRACTORS/RESTORATION
ARC Water Damage Nina Lauffer 510-835-3073 www.arc-ca.com Water Damage Recovery Rick Walker 800-886-1801 www.waterdamagerecovery.net DOORS & GATES
R & S Overhead Garage Door Sean Boatright 510-483-9700, x14 www.rsdoors.com Rex Key and Security Joe Towbis 510-527-7000 www.rexkey.com SGK Home Solutions Vladmir Merabian 408-264-6964 www.sgkhomesolutions.com Statcomm Inc. Cherie Anderson 650-988-9508 www.statcomm.com Urban Ore Marylou Van 510-841-7283 www.urbanore.com ELECTRICIANS
Thomas Electric Co. (TEC) Thomas Hurtubise 510-814-9387 www.tecelectric.net ELEVATOR REPAIRS
Paramount Elevator Corp. Mark Pipoly 510-835-0770 www.paramountelevator.com FINANCIAL PLANNING
David White & Associates Miguel Delgado 925-277-2635 www.dwassociates.com FIRE ESCAPE SERVICE
Great Escape Susan Giaquinto 415-566-1479 www.greatescapeinc.com FIRE PROTECTION
Bay Alarm Limor Margalit 510-639-2652 www.bayalarm.com Detect All Security & Fire Amy Roither 510-835-4100 www.detectall.com Sentry Alert David Ingham 510-549-0306 www.sentryalert.com Statcomm Inc. Cherie Anderson 650-988-9508 www.statcomm.com FLOOR COVERINGS
Bay Area Contract Carpets, Inc. Kerry Plain or Ken Scott 510-613-0300 www.bayareacontractcarpets.com Dick’s Carpet One Dan Biles 510-633-9533 www.dickscarpetoneoakland.com GOVERNMENT AGENCIES
Housing Authority of the City of Alameda Mike Pucci 510-747-4325 www.alamedahsg.org Oakland Housing Authority Leased Housing 510-874-1500 www.oakha.org GREEN BUILDING
Going Green Dan Antonioli 510-652-7593 www.going-green.co Smart Building, Inc. Sheryl Dron 510-444-7678 www.getsmartbuilding.com Urban Ore Marylou Van 510-841-7283 www.urbanore.com GUTTER CLEANING
Mr. Sparkle Dylan Kelly 510-504-7048 www.mrsparkle.biz HANDYMAN SERVICES
APT Maintenance, Inc. Keith Berry 510-747-9713 www.aptmaintenanceinc.com Bayside Building Services & Pest Elimination Helmut Tutass 510-717-3506 pestcontrol1@writeme.com Halcyon Properties Roger Shane 510-847-7075 rbshane@aol.com KMK Contracting & Property Services Kevin Knobles 925-292-8667 www.kmkcontracting.com Start to Finish Christopher Bailey 510-727-9128 cpmbailey@sbcglobal.net HAULING SERVICES
KMK Contracting & Property Services Kevin Knobles 925-292-8667 www.kmkcontracting.com Urban Ore Marylou Van 510-841-7283 www.urbanore.com HEATING & AIR CONDITIONING
Advanced Home Energy Shira Henry 510-540-4860 www.advancedhomeenergy.com Albert Nahman Plumbing & Heating Albert Nahman 510-843-6904 www.albertnahmanplumbing.com Black Diamond Mechanical Robert Lopez 510-522-4196 robertlopez@blackdiamondmechanical.com Hassler Heating & Air Conditioning Mike Hassler 510-848-3030 www.hasslerheating.com INSPECTIONS
SpottCheck Consulting Susan Spott 510-816-1452 www.spottcheck.com INSULATION
Advanced Home Energy Shira Henry 510-540-4860 www.advancedhomeenergy.com INSURANCE
Bulloch Insurance Brokers, Inc. Curt Bulloch 925-640-0485 www.curtbulloch.com Commercial Coverage Insurance Paul Tradelius 415-436-9800 www.comcov.com CSE Insurance Group David Earwood 925-817-6497 www.cseinsurance.com Capital Insurance Group John Reynoso 1-800-682-9255, x7519 jreynoso@ciginsurance.com Commercial Coverage Insurance Paul Tradelius 415-436-9800 www.comcov.com ebrha.com
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vendor directory David E. Quan Agency Insurance Brokerage Xavier Quan 510-653-8880 www.dquanagy.com The Greenspan Co./Adjusters Int’l. Rich Hallock 866-331-4790 www.greenspan-ai.com Jain L. Williams - State Farm Insurance Jain L. Williams 510-530-3222 www.jainwilliams.com Kelly Lux – State Farm Insurance Kelly Lux 510-521-1222 Kelly.lux.gjcg@statefarm.com Ruth Stroup Insurance Agency Ruth Stroup 510-874-5700 www.stroupinsurance.com Stone Creek Insurance Agency Tom Lynch 925-297-4202 www.stonecreekinsurance.com Yonas Hagos - Farmers Insurance Yonas Hagos 510-763-1030 www.farmersagent.com/yhagos INTERCOMS & ACCESS CONTROLS
R & S Overhead Garage Door Sean Boatright 510-483-9700, x14 www.rsdoors.com Rex Key and Security Joe Towbis 510-527-7000 www.rexkey.com Statcomm Inc. Cherie Anderson 650-988-9508 www.statcomm.com Martinez Real Estate Investment Jose Martinez 510-769-0436 LAUNDRY EQUIPMENT
Coinmach Claudette Lucey 510-909-9786 www.coinmach.com Excalibur Laundries Carlos Barraza 510-872-1554 www.excaliburlaundries.com Innovative Coin Cheri Guffey 510-259-1494 www.innovativelaundry.com
PAINT SUPPLIERS
Dunn-Edwards Paints Jim Perry 925-822-7535 www.dunnedwards.com PEST & VECTOR CONTROL
Alameda Co. Vector Control Services Daniel Wilson 510-567-6826 daniel.wilson@acgov.org Terminix Robert Sater 510-489-8689 www.terminix.com Times Up Termite Mike Barker 510-568-7200 www.timesuptermite.com Albert Nahman Plumbing & Heating Albert Nahman 510-843-6904 www.albertnahmanplumbing.com Frank Bonetti Plumbing Dan Bonetti 510-582-0934 www.bonettiplumbing.com Pacific Drain & Rooter Service Nasir Jalil 510-452-4606 nasirjalil80@gmail.com Roto-Rooter Martin Alvarez 510-755-1262 sanactma@aol.com PROPERTY MAINTENANCE
APT Maintenance, Inc. Keith Berry 510-747-9713 www.aptmaintenanceinc.com KMK Contracting & Property Services Kevin Knobles 925-292-8667 www.kmkcontracting.com PROPERTY MAINTENANCE SUPPLIES
LEAD, MOLD & PEST MANAGEMENT
Alameda County Healthy Homes Dept. Julie Twichell 510-567-8252 www.aclppp.org LISTING SERVICE
Trulia Pierre Calzadilla 415-400-7260 www.trulia.com/rent
Ferguson Enterprises, Inc. Jermane Griffin 916-752-7608 jermane.griffin@ferguson.com Wilmar Nick Mraz 800-345-3000 www.wilmar.com PROPERTY MANAGEMENT
LITIGATION SUPPORT SERVICES
SpottCheck Consulting Susan Spott 510-816-1452 www.spottcheck.com LOCKSMITH EVICTION SERVICES
| APRIL 2015 |
MARKET RESEARCH
Axiometrics Inc. Amy Wolff Sorter 469-621-9669 asorter@axiometrics.com
PLUMBING/WATER HEATERS
INVESTMENT OPPORTUNITIES
44 RENTAL HOUSING
Golden Gate Locksmith Co Ralph Scott 510-654-2677 kgglocksmith@yahoo.com Rex Key and Security Joe Towbis 510-527-7000 www.rexkey.com
ebrha.com
Advent Properties, Inc. Benjamin Scott 510-289-1184 www.adventpropertiesinc.com Bay Property Group Daniel Bornstein 510-836-0110 www.baypropertygroup.com
Beacon Properties Carlon Tanner 510-428-1864 www.beaconprop.com Caldecott Property Management Services Ronald Reece 510-594-2400, x226 www.caldecott.com Canyon Pacific Management Tom Scripps 415-495-4739 www.canyonpacific.com Cedar Properties Jonathan Weldon 510-834-0782 www.cedarproperties.com Crane Management Kit Crane 510-918-2306 www.cranemanagment.net The Enterprise Company William McLetchie 510-444-0876 ERI Property Management Sasha Bermudez 510-883-7017 www.erirentals.com Lapham Company Jon M. Shahoian 510-594-7600 www.laphamcompany.com Marquardt Property Management Karen or Judi Marquardt 510-530-2050 www.mpmoakland.com MSB Property Management Nik Bhachu 510-649-3380 www.msbmanagement.com Oaktown Urban Properties Michael Moynihan 415-572-0334 www.oaktown-up.com OMM Inc./Mason Management Janice Mason 510-522-8074 www.ommhomes.com Premium Properties Sam Sorokin 510-594-0794 www.premiumpd.com Shaw Properties Liz Hart 510-665-4350 www.shawprop.com Sphinx Property Management Jon Goree 510-798-9299 www.sphinxpm.com Wellington Property Company Jillian Loh 510-338-0588 www.wellingtonpropertyco.com Woodminster Property Management Nicholas Drobocky 510-336-0202 www.woodminstermanagement.com PROPERTY MANAGEMENT SOFTWARE
Buildium Sam Clarke 888-414-1933 x152 sam@buildium.com REAL ESTATE BROKERS & AGENTS
vendor directory Advent Properties, Inc. Benjamin Scott 510-289-1184 www.adventpropertiesinc.com ARA Pacific Mike Colhoun 415-273-2177 www.arausa.com Caldecott Properties Andy Read 510-594-2400 www.caldecott.com CBRE Keith Manson 510-874-1919 www.cbre.com Coldwell Banker – Apartment Specialist John Caronna 925-253-4648 www.eastbayIREA.com Coldwell Banker Commercial Henry Ohlmeyer 925-831-3390 www.coldwellbanker.com Edrington & Associates Steven Edrington 510-749-4880 sedrington@msn.com Home & Investment Realty George Vassiliades 510-710-6826 www.propertiesbygeorge.com Lapham Company Tsegab Assefa 510-594-0643 www.laphamcompany.com Litton/Fuller Group Luke Blacklidge 510-548-4801, x130 www.littonfullergroup.com Marcus & Millichap Eli Davidson 510-379-1280 eli.davidson@marcusmillichap.com Marcus & Millichap David Wolfe 510-379-1200 www.marcusmillichap.com NAI Northern California Grant Chappell 510-972-4941 www.naikilpatrick.com Paragon Commercial Brokerage Ben Weil or Zack Ward 415-874-5018 thebenweilteam@paragon-re.com Property Counselors Link Corkery, Inc. Link Corkery 510-886-1212 www.pclclink.com Red Oak Realty Kevin Hamilton 510-250-8780 kevin@redoakrealty.com Woodminster Real Estate Co Inc. Nicholas Drobocky 510-336-0202 www.woodminsterrealty.com RECYCLING/REUSE
DR3 Mattress Recycling Robert Jaco 510-798-3734 www.mattressrecycling.us Urban Ore Marylou Van 510-841-7283
www.urbanore.com RENT CONTROL CONSULTANTS
Alan K. Beales 510-339-9776 Bay Property Group Cristian Villarreal 510-474-7404 cristian@baypropertygroup.com Edrington & Associates Steven Edrington 510-749-4880 sedrington@msn.com Liz Hart 510-813-5440 liz.hart1801@gmail.com St. John and Associates (Berkeley only) Michael St. John 707-937-3711 msjetal@pacbell.net RENTAL SERVICES
Cal Rentals Elaine Perkins 510-642-3644 www.calrentals.housing.berkeley.edu Hamilton Properties Bay Area Delesha Hamilton 404-606-2141 www.hamiltonpropertiesbayarea.com ROOFERS
A-One Construction Dirksen Rogers 408-690-0890 www.a-oneconstruction.com Fidelity Roof Company Doug Kellor 510-547-6330 www.fidelityroof.com Frank Fiala Roofing Frank Fiala 510-582-6929 www.ffialaroofing.com General Roofing Company Michael Wakerling 510-536-3356 www.generalroof.com SECURITY/SURVEILLANCE
Bay Alarm Limor Margalit 510-639-2652 www.bayalarm.com Detect All Security & Fire Amy Roither 510-835-4100 www.detectall.com R & S Overhead Garage Door Sean Boatright 510-483-9700, x14 www.rsdoors.com Sentry Alert David Ingham 510-549-0306 www.sentryalert.com SEISMIC CONSTRUCTION
Adobe Soil & Structures Mark Almeida 510-919-1880 www.adobesoils.com B.A.S.S. Seismic Retrofit D.W. Hamilton 510-919-0046 www.bassseismicretrofit.com West Coast Premier Construction, Inc. Homy Sikaroudi 510-271-0950 www.wcpc-inc.com
SEISMIC ENGINEERING
Earthquake & Structures, Inc. B.K. Paul 510-601-1065 www.esiengineers.com W. Charles Perry & Associates W. Charles Perry 650-638-9546 www.wcharlesperry.com SOLAR ENERGY
Sun Light & Power Martin Morehouse 510-809-3686 martin@sunlightandpower.com TENANT SCREENING SERVICE
Contemporary Information Corp. (CIC) Dan Firestone 888-232-3822 www.continfo.com TOWING SERVICE
Ken Betts Towing Services Ayub Azam 510-532-5000 www.kenbettscompany.com PPI Towing Stephanie Gipson 510-533-9600 www.ppitowing.net TREE SERVICE
Bartlett Tree Experts Tony DeMola 925-934-6306 www.bartlett.com Coastal Tree Service Hans Waller 510-693-4631 www.coastaltreeservice.com TUB, TILE & COUNTERTOP REFINISHING
Discovery Coatings Gargie Balarbar 415-971-8207 www.discoverycoatings.com WASTE & WASTE HANDLING EQUIPMENT
DR3 Mattress Recycling Robert Jaco 510-798-3734 www.mattressrecycling.us Waste Management Company David Tucker 510-430-8509 www.wastemanagement.com WATER MANAGEMENT
HydroPoint Colleen Moore 415-602-6984 cell cmoore@hydropoint.com WINDOW WASHING
Mr. Sparkle Dylan Kelly 510-504-7048 www.mrsparkle.biz WINDOWS
Advanced Home Energy Shira Henry 510-540-4860 www.advancedhomeenergy.com SGK Home Solutions Vladmir Merabian 408-264-6964 www.sgkhomesolutions.com Urban Ore Marylou Van 510-841-7283 www.urbanore.com ebrha.com
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RENTAL HOUSING 45
ad index
PRODUCTS & SERVICES
EAST BAY RENTAL HOUSING ASSOCIATION
Membership Application for Property Owners and Managers
APPLIANCE PARTS & SALES
Appliance Parts Distributor. . . . . . . . . . . . . . 5 ATTORNEYS
Bornstein & Bornstein. . . . . . . . . . . . . . . . . . 37 The Evictors. . . . . . . . . . . . . . . . . . . . . . . . . . 29
JOIN TODAY AND RECEIVE BENEFITS SUCH AS:
Fried & Williams LLP. . . . . . . . . . . . . . . . . . . 15
FREE RENTAL FORMS
BATHTUB & SHOWER ENCLOSURES
MONTHLY MEMBERSHIP MEETINGS
American Bath. . . . . . . . . . . . . . . . . . . . . . . . 21
LEGAL REFERRALS
BUILDING MATERIALS/HARDWARE
EDUCATIONAL CLASSES
Urban Ore. . . . . . . . . . . . . . . . . . . . . . . . . . . . 33
FREE SUBSCRIPTION TO RENTAL HOUSING MAGAZINE
CARPETING & FLOORING
LEASING SERVICE
Bay Area Contract Carpets, Inc.. . . . . . . . . 35 CONSTRUCTION
MANAGEMENT ASSISTANCE
KMK Construction. . . . . . . . . . . . . . . . . . . . . 33
SEMINARS & WORKSHOPS
West Coast Premier Construction. . . . . . . 35
TENANT SCREENING SERVICE
ENGINEERS
Adobe Soil & Structures. . . . . . . . . . . . . . . . 35 Earthquake and Structures, Inc.. . . . . . . . . 25 West Coast Premier Construction. . . . . . . 39
NAME
INSURANCE COMPANIES
Jain Williams - State Farm. . . . . . . . . . . . . . 39
COMPANY
LAUNDRY
Innovative Coin . . . . . . . . . . . . . . . . . . . . . . . 33
ADDRESS
LENDERS CITY
STATE ZIP
JPMorgan Chase Bank. . . . . . . . . . . . . . . . . 23 LOCKSMITH EVICTION SERVICES
Golden Gate Locksmith Co. . . . . . . . . . . . . 39
PHONE EMAIL
PEST CONTROL
Team Too. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
RENTAL PROPERTY LOCATION
PLUMBING
ANNUAL MEMBERSHIP DUES (TAX DEDUCTIBLE):
Albert Nahman Plumbing . . . . . . . . . . . . . . 25
1-2 UNITS = $249.00
3-4 UNITS = $269.00
5-8 UNITS = $289.00
9-16 UNITS = $299.00
PROPERTY MANAGEMENT & SALES
17+ UNITS = $299.00 + $5.00 PER UNIT
Bay Property Group . . . . . . . . . . . . . . . . . . . 37
PROPERTY MANAGEMENT
Maisel Property Management. . . . . . . . . . . 33
Beacon Properties. . . . . . . . . . . . . . . . . . . . . 39 NEW MEMBER PROCESSING FEE
$30
TOTAL DUE:
$
MASTERCARD
VISA
REAL ESTATE BROKERS
John Caronna—Coldwell Banker. . . . . . . . . . 9 Paragon Commercial Brokerage. . . . . . . . . 20
CHECK (PAYABLE TO EBRHA)
AMERICAN EXPRESS
RECYCLING
Waste Management . . . . . . . . . . . . . . . . . . . . 3 CARD NUMBER
EXPIRATION DATE
RENT BOARD CONSULTANTS
Liz Hart . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33 ROOFING SERVICES
NAME ON CARD
Frank Fiala Roofing. . . . . . . . . . . . . . . . . . . . 29 General Roofing Co. . . . . . . . . . . . . . . . . . . . 37
SIGNATURE
DETACH THIS FORM AND FAX OR MAIL TO THE ADDRESS BELOW East Bay Rental Housing Association 360 22nd Street, Suite 240 Oakland, CA 94612 TEL
510.893.9873 | FAX 510.893.2906
ebrha.com
46 RENTAL HOUSING
| APRIL 2015 |
ebrha.com
SECURITY
Sentry Alert. . . . . . . . . . . . . . . . . . . . . . . . . . 25 WATERPROOFING
Applied Waterproofing Systems . . . . . . . . 39 WINDOWS, DOORS & SIDING
SGK Solutions.. . . . . . . . . . . . . . . . . . . . . . . . . 7 Acceptance of an advertisement by this magazine does not necessarily constitute any endorsement or recommendation by EBRHA, express or implied, of the advertiser or any goods or services offered.
Real Estate Investors & Brokers are Invited EAST BAY RENTAL HOUSING ASSOCIATION
EAST BAY RENTAL HOUSING ASSOCIATION PRESENTS
Economic & Legislative Forum Wednesday, April 22, 2015 8:00 am - 11:30 am Scott’s at Jack London Square, 1 Broadway, Oakland The only event of its kind dedicated exclusively to the Bay Area apartment industry. The East Bay residential rental market is hot right now. But, given current supply challenges and local rent policies, what is the outlook? Will demand continue to outpace supply? When will rents reach their peak? What are the best neighborhoods to invest in? How can owners protect themselves from inevitable downturns and adverse legislation? Discover this, and more, from leading industry experts.
Keynote Speakers
The Leader in Apartment Market Research
K.C. Sanjay
8:00 – 8:30 am: Continental Breakfast & Networking 8:30 – 9:00 am: Keynote: Economic Forecast 9:00 – 9:45 am: Rental Housing Outlook 9:45 – 10:30 am: Lender & Broker Updates 10:30 – 11:00 am: Legislative Landscape 11:00 – 11:30 am: Post-event Networking
Real Estate Economist AXIOMetrics Inc.
Rick Wilson Research Analyst AXIOMetrics Inc.
PANEL SPEAKERS
Wayne Rowland EBRHA President (Moderator)
Bianca Fargnoli Luke Blacklidge Director of Real Estate Broker, Real Estate, Litton-Fuller Group, Greystar EBRHA Vice President
James Kilpatrick President, NAI Northern California
Ron Kingston President, CalPCG and EBRHA State Lobbyist
Marc Lipsett Daniel Bornstein, Esq. Director of Loan Founding Partner, Bay Production, Property Group and Intervest Bornstein & Bornstein
THANK YOU TO OUR SPONSORS Commercial Real Estate Services, Worldwide.
FOR TICKETS, GO TO WWW.EBRHA.COM/FORUM. EARLY BIRD DISCOUNT ENDS APRIL 11.